Redwire (NYSE:RDW) Shares Down 7.7% - Time to Sell?

Redwire Co. (NYSE:RDW - Get Free Report) was down 7.7% on Monday . The stock traded as low as $21.71 and last traded at $22.09. Approximately 766,832 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 2,065,662 shares. The stock had previously closed at $23.92.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RDW. B. Riley raised shares of Redwire from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.50 to $27.00 in a research report on Monday, January 27th. Cantor Fitzgerald began coverage on shares of Redwire in a research report on Friday, January 24th. They issued an "overweight" rating and a $28.00 price objective for the company. HC Wainwright lifted their target price on shares of Redwire from $18.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, Roth Mkm increased their price target on Redwire from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Redwire has a consensus rating of "Buy" and a consensus price target of $18.04.

Redwire Price Performance

The business's 50-day simple moving average is $16.74 and its two-hundred day simple moving average is $10.90.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.01, for a total transaction of $96,731.71. Following the transaction, the insider now owns 4,598,056 shares of the company's stock, valued at approximately $82,810,988.56. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 667,656 shares of company stock valued at $13,288,352. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock valued at $72,000 after acquiring an additional 1,372 shares during the period. US Bancorp DE bought a new stake in shares of Redwire in the 4th quarter worth approximately $119,000. Arkadios Wealth Advisors acquired a new position in Redwire during the 4th quarter valued at approximately $165,000. The Manufacturers Life Insurance Company bought a new position in Redwire during the 2nd quarter worth $74,000. Finally, Vontobel Holding Ltd. acquired a new stake in Redwire in the third quarter worth $74,000. Institutional investors own 8.10% of the company's stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.